Label suits (and unions) have screwed more musicians and ruined more music than you will ever know. One of the reasons I hate the music business, even though we have been in it for 50 years.
You got it right.
Hunter S. Thompson famously said: “The music business is a shallow money trench, a long plastic hallway where thieves and whores run free and good men die like dogs.
There’s also a negative side...”
I have no doubt whatsoever that you are right. The money guys are the devil.